HVDC Transmission Market size: 2021 Strategic Assessment, Research, Region, Share and Global Expansion by 2025
Market Analysis The HVDC transmission market is projected to develop at a 6.5% CAGR between 2018- 2023, as per the latest analysis of Market Research Future (MRFR). HVDC power transmission systems, simply put, are systems that use direct current to transmit electricity. Owing to the DC or direct current, these systems connect power grids asynchronously in that definite area that eliminates different outage-causing issues. It has different configurations such as multi-terminal links, back-to-back, bi-polar, and mono-polar, different voltage ratings such as more than 800kV, 640-800 kV, 350-640kV, and less than 350 kV, and works on different technologies such as voltage sourced converter (VSC) and low commuted converter (LCC). HVDC transmission has wide applications in offshore cables, asynchronous grids, and underground cables. Various factors are fuelling the demand for the HVDC transmission market. Such factors, as revealed by the new MRFR analysis, include o...